Legal & General Group Plc Sells 1,148 Shares of Clearfield, Inc. (NASDAQ:CLFD)

Legal & General Group Plc lessened its stake in Clearfield, Inc. (NASDAQ:CLFD) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,119 shares of the communications equipment provider’s stock after selling 1,148 shares during the period. Legal & General Group Plc’s holdings in Clearfield were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. grew its position in shares of Clearfield by 2.5% in the 4th quarter. Invesco Ltd. now owns 15,146 shares of the communications equipment provider’s stock valued at $470,000 after buying an additional 366 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Clearfield by 25.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the communications equipment provider’s stock valued at $239,000 after buying an additional 1,544 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Clearfield by 45.5% in the 4th quarter. SG Americas Securities LLC now owns 5,297 shares of the communications equipment provider’s stock valued at $164,000 after buying an additional 1,656 shares during the last quarter. Trexquant Investment LP grew its position in shares of Clearfield by 26.5% in the 4th quarter. Trexquant Investment LP now owns 9,547 shares of the communications equipment provider’s stock valued at $296,000 after buying an additional 1,997 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Clearfield by 11.1% in the 4th quarter. American Century Companies Inc. now owns 23,514 shares of the communications equipment provider’s stock valued at $729,000 after buying an additional 2,344 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Clearfield from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Clearfield in a research note on Wednesday, March 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Clearfield has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Clearfield Stock Performance

NASDAQ:CLFD opened at $28.67 on Thursday. The company has a fifty day moving average of $28.96 and a 200-day moving average of $32.23. The firm has a market capitalization of $405.16 million, a P/E ratio of -45.51 and a beta of 1.51. The company has a quick ratio of 7.41, a current ratio of 10.57 and a debt-to-equity ratio of 0.01. Clearfield, Inc. has a twelve month low of $23.78 and a twelve month high of $44.83.

Clearfield (NASDAQ:CLFD) last announced its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. Clearfield had a negative net margin of 5.41% and a negative return on equity of 3.31%. As a group, sell-side analysts anticipate that Clearfield, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at Clearfield

In other Clearfield news, COO John P. Hill sold 16,539 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $33.26, for a total transaction of $550,087.14. Following the completion of the sale, the chief operating officer now owns 189,886 shares in the company, valued at approximately $6,315,608.36. The trade was a 8.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.80% of the stock is currently owned by company insiders.

Clearfield Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.